The share of homes across the country trading at a discount in March inched up about 2 percentage points from the month and year before.
As of the end of March, about 22.6 percent of U.S. homes were trading at less than sellers’ asking prices from the beginning of the month, according to an analysis of Zillow data by The Real Deal. In February, this share was 20.5 percent, about the same as in March 2024.
Among the top 20 markets in the country, Phoenix recorded the highest share of sales with price cuts in March – 35 percent. Following Phoenix with the biggest shares of slashed transactions was Tampa (32.7 percent) and Denver (28.6 percent).
The markets with the lowest share of sales with discounts were: New York (11.8 percent), Boston (13.8 percent) and San Francisco (16 percent).
Phoenix also saw the greatest share increase from the month before, of about 4 percentage points. Meanwhile, Denver took the crown as the market with the greatest increase from the year before, of 6.4 percentage points.
Only one market – Detroit – saw the share of its discounted transactions drop in March from February, by about 0.2 percentage points.
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